Pepe Coin, the meme-inspired cryptocurrency, has faced a recent setback as it failed to sustain support at $0.00000078, casting doubts on its short-term rally prospects. The sellers’ inability to follow through on their downward pressure hints at some wavering in their conviction. The crucial question now is whether the uncertainty will pave the way for buyers to reclaim higher ground this month.
As of the latest data from CoinGecko, PEPE currently trades at $0.000000807186, reflecting a 2.8% increase in the past 24 hours. However, over the past seven days, the coin has experienced a 7.6% decline in value.
Price analysts suggest that if the daily candle manages to close above the critical level of 0.00000078, the recent breakdown could be deemed a “bear trap,” that